Certified Bitcoin Professional Practice Exam

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Prepare for the Certified Bitcoin Professional Exam with our comprehensive quiz. Use flashcards and multiple choice questions, complete with hints and explanations. Get ready to excel!

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Is the balance of every Bitcoin account kept private by the blockchain?

True
False
Only for large accounts
Depends on the wallet type

The correct answer is: False

The assertion that the balance of every Bitcoin account is kept private by the blockchain is inaccurate because the blockchain operates as a public ledger. This means that all transaction details, including the balances associated with Bitcoin addresses, are visible to anyone who accesses the blockchain. While addresses themselves do not inherently contain personal information about their users, the transactions and balances are transparent. Thus, even though identities may be obscured, balances are not private; they can be viewed by anyone using blockchain explorers. This transparency is a fundamental characteristic of Bitcoin and reinforces trust in the system, as it allows for verification of transactions and balances without the need for a central authority. In contrast to the idea that some accounts might remain confidential based on size or wallet type, the privacy of Bitcoin balances does not vary under those circumstances. All balances are publicly accessible, which is why the answer reflects that the statement about privacy is false.